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QUESTION
Use the fact that the mean of a geometric distribution is = 1/p and the variance is 2 = q/p 2 . A company assumes that 0.5% of the paychecks for a...
Use the fact that the mean of a geometric distribution is μ = 1/p and the variance is σ2 = q/p2.
A company assumes that 0.5% of the paychecks for a year were calculated incorrectly. The company has 200 employees that examines the payroll records from one month.
- Find the mean, variance, and standard deviation.
- How many employees payroll records would you expect to examine before finding one with an error?
